No. Here's my reasoning:

If you are buying new construction in a still-to-be-built-out project, the new units will always be more valuable than your unit. Here's what I mean. Say I bought a unit at the Libbie Mill townhouse project in the first phase of the project. Say the total project has a 2-4 year build out. What happens if you want to move in Year 3? Isn't someone going to buy a brand new unit, rather than your unit?

I guess it's possible the entire project could increase in value, such that the new units have increased so much in price over and above what you paid that even at a discount to the new unit price you'd be making more than you paid. But the other issue is timing. How are you going to sell your (used) unit unless it's cheaper than the new units? And how much cheaper does it have to be to be "worth it" to not buy new?

Maybe I am not thinking of this correctly, and I freely admit I have not sold a lot of new construction. But I did represent developers who did a number of condominium conversions in 2006-2010, and we definitely experienced that. If there was a "new" unit available, and an existing owner wanted to sell, they needed to provide a pretty significant discount relative to the new unit.

But for people that want new construction that's a personal preference and it might be worth it for those reasons. And if you plan to be there 5+ years, beyond the build out of the whole project, maybe it doesn't matter.